CFDs on Copper FX:​COPPER

long good place wait for strong candel

Copper forming continution pattern for downside fresh pennant breakout.

This whole thing looks big corrective structure in making because there are lots of incomplete moves, so buy it in lower timeframe after minor correction and keep that until breaks previous top, it will go up down for sometime in big corrective pattern.

Bullish GARTLEY on RADAR....Possible Counter trade .... WAIT for REVERSAL before entry ..... Good RISK/REWARD ratio ....

Cu CMP 3.26 Target 3.80 Stop 3.05 Weekly chart 30/200 crossover Reverse head and shoulder and price past neckline resistance. Series of HHs and HLs confirms price in the process of a promising uptrend.

Explained in chart

Copper soon 3.00,2.90

Bearish Divergence on CU daily Chart

Copper has broker the lower wall of previous upward parallel channel few days back and currently travelling in downward channel, we can see some up movement to taste the upper wall of the current up channel but if goes down and break the strong support at 2.465 and sustains below then a huge downfall movement can be seen.... as of now my current strategy would be ...

As per Daily chart, the price action is consolidating in a symmetrical triangle. Showcasing Lower Highs and Higher Lows. Enter at Breakout to gain best out of it.

Copper is a buying opportunity upon 50 to 61.8% fib retracement levels around 2.085 levels with stoploss just below 2.06 for targets of 2.15 / 2.20. This could turn out to be a correction or the start of a new rally.. Price action would give more details. Happy Trading!!

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